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Post by liane on Dec 17, 2015 8:32:00 GMT -5
Karma's a Bitch!
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Post by mnholdem on Dec 17, 2015 8:32:31 GMT -5
"Shares of KBIO fell 50% in premarket trading."
Based on his history of successfully shorting, it makes me wonder if he has sunk money in a hidden fund and is planning to make a fortune off his bio companies, which would also be illegal. Can it be proven, though, if true? With agencies like NSA, the okd adage, "you can run but you cannot hide" may be applied with this young man.
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Post by Deleted on Dec 17, 2015 8:35:15 GMT -5
"Shares of KBIO fell 50% in premarket trading." Think any of the MNKD shorts, naked or otherwise are going to try to quietly slip out the back door?
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Post by vaijon on Dec 17, 2015 8:43:26 GMT -5
This morning I woke up to the articles on the Internet and instantly, a huge grin appeared on my face.
There is eventual justice in this world!
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Post by vaijon on Dec 17, 2015 8:45:00 GMT -5
How awesome is that!!! Now if they would only nail Feuerstein for aiding and abetting my Christmas wish list will have been fulfilled. This comment made me laugh out loud! How true is that! I agree, it would be a wonderful Christmas gift.
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Post by dictatorsaurus on Dec 17, 2015 8:52:44 GMT -5
This news made happier than a 30% MNKD SP increase! Honest!
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Post by mssciguy on Dec 17, 2015 8:57:26 GMT -5
Let's hope that TheStreet, SeekingAlpha, Motley Fool, take pause. All peas in the same pod, in some ways.
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Post by Deleted on Dec 17, 2015 9:00:44 GMT -5
Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.
― Sun Tzu, The Art of War
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Post by vissertrades on Dec 17, 2015 9:03:48 GMT -5
One down, more to come. Fartstain and Krapper will fall too. Shrek will squeel like a pig and all hogs will be put in the pig pen where they belong. Merry Christmas, I sure Mannkind will have some smiles about this...
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Post by mssciguy on Dec 17, 2015 9:10:05 GMT -5
On the bright side for Shkreli, he'll have plenty of time to listen to the one-of-a-kind Wu-Tang album he bought in May for $2 million if he ends up incarcerated.
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Post by Deleted on Dec 17, 2015 9:14:03 GMT -5
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Post by bradleysbest on Dec 17, 2015 9:14:20 GMT -5
Being arrested is a good start. Now let's get him convicted! Merry F'in xmas douchebag!
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Post by irrationalexubera on Dec 17, 2015 9:19:35 GMT -5
i hope they subpoena his email and text history and MNKD (and other companies he burned) see some justice from his contact with the FDA.
from the NY Times:
Martin Shkreli, a pharmaceutical entrepreneur and former hedge fund manager who has been widely criticized for drug price gouging, was arrested Thursday morning by the federal authorities.
The investigation, in which Mr. Shkreli has been charged with securities fraud, is related to his time as a hedge fund manager and running the biopharmaceutical company Retrophin — not the price-gouging controversy that has swirled around him.
Mr. Shkreli, 32, is now chief executive and founder of Turing Pharmaceuticals, which has drawn scrutiny for acquiring a decades-old drug and raising the price of it overnight to $750 a pill, from $13.50.
He was arrested in his Midtown Manhattan apartment, according to a law enforcement source, who declined to be identified because the indictment had not been unsealed. Federal prosecutors in Brooklyn were expected to hold a news conference on the charges later Thursday.
Martin Shkreli, the 32-year-old chief executive and founder of Turing Pharmaceuticals, in his Manhattan office.Martin Shkreli, the Bad Boy of Pharmaceuticals, Hits BackDEC. 5, 2015 Martin Shkreli is the founder and chief executive of Turing Pharmaceuticals, which raised the price of the drug Daraprim to $750 a tablet from $13.50.Drug Goes From $13.50 a Tablet to $750, OvernightSEPT. 20, 2015 Martin Shkreli, Turing's chief executive.Martin Shkreli’s Latest Plan to Sharply Raise Drug Price Prompts OutcryDEC. 11, 2015 Demonstrators protested outside of the New York offices of Turing Pharmaceuticals earlier this month.New York Attorney General Examining Whether Turing Restricted Drug AccessOCT. 12, 2015 Martin Shkreli, the 32-year-old founder of Turing Pharmaceuticals.Martin Shkreli Bought Sole Wu-Tang Clan Album, Report SaysDEC. 9, 2015 Evan L. Greebel, a corporate lawyer at Kaye Scholer who has worked with Mr. Shkreli, was also arrested on Thursday morning. A spokesman for the firm declined to comment.
In 2011, while running the hedge fund MSMB Capital Management, Mr. Shkreli started Retrophin, which adopted a controversial business strategy that has come under scrutiny. It acquired old, neglected drugs often used for rare diseases and substantially raised their prices. Retrophin, for example, raised the price of Thiola, used to treat a disease that causes kidney stones, to $30 a pill from $1.50. In 2012, he took Retrophin public through a merger with a publicly traded shell company.
The federal charges are believed to parallel a civil lawsuit filed against Mr. Shkreli in August by Retrophin, whose board ousted Mr. Shkreli as chief executive in September 2014. In its lawsuit, Retrophin accused Mr. Shkreli of having used the company as a kind of personal piggy bank to help pay off upset investors who lost money at the hedge fund MSMB. Among the ways he did this, the lawsuit says, was by hiring some of these investors as sham consultants to Retrophin.
“Shkreli was the paradigm faithless servant,” Retrophin’s complaint, filed in in Manhattan, said. “Starting sometime in early 2012, and continuing until he left the company, Shkreli used his control over Retrophin to enrich himself and to pay off claims of MSMB investors (who he had defrauded).”
Mr. Shkreli has said in earlier interviews that the Retrophin lawsuit was false and merely a way for the company to escape from paying him severance payments he was owed.
News of the arrest was reported earlier by Bloomberg.
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Post by mindovermatter on Dec 17, 2015 9:20:37 GMT -5
Let's hope he got so scared he peed and pooped in his pants and that was caught on camera as well. I also hope he turns and gives all the names of those who helped him with his fraud and hopefully we hear about Adam F Cramer getting arrested as well in the near future. Both are scumbags and need to get corn holed 5 or 6 times a day in prison.
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Post by mssciguy on Dec 17, 2015 9:22:00 GMT -5
apparently Cramer on CNBC distancing himself from MS
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